Goldman Sachs Downgrades Canadian Solar (CSIQ) to Neutral

Goldman Sachs analyst Brian Lee downgraded Canadian Solar (NASDAQ: CSIQ) from Buy to Neutral with a price target of $11.00 (from $14.00).

The analyst comments "We downgrade CSIQ shares to Sell from Neutral, with (11%) downside to our revised 12-month price target of $11 ($14 prior), vs. ~36% average upside across our coverage group. Our incrementally more negative view on CSIQ’s outlook stems from potential policy risks under the Trump administration and tariff environment for solar imports into the US, particularly from Southeast Asia. Given that CSIQ is one of the more highly exposed foreign solar panel suppliers into the US market, we believe the negative implications of these changes will drive a more challenging margin outlook for the company, as the US has remained one of the more profitable geos for the broader space in recent times. At the same time, consensus estimates appear to have not captured these headwinds in forward expectations, where our 2025-2026 estimates for EBITDA are 35%-40% below the Street as the market does not appear to be pricing in the uncertainty around recent policy developments and the uncertain outlook makes us even more conservative."

For an analyst ratings summary and ratings history on Canadian Solar click here. For more ratings news on Canadian Solar click here.

Shares of Canadian Solar closed at $12.69 yesterday.

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